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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on October 1, 2024

    Featured image for article about Top Stories

    LONDON (Reuters) -Major brokerages, including Goldman Sachs and JPMorgan, now expect the European Central Bank to deliver a quarter-point cut at its Oct. 17 meeting, revising their forecasts on Friday on recent data showing economic weakness and slowing inflation.

    Market pricing now reflects around a 70% chance of such a rate cut, which would follow reductions at the ECB’s June and September meetings, as the data pushes policy makers to focus more on growth and less on price pressures.

    Euro zone business activity contracted sharply and unexpectedly in September, surveys showed, as the bloc’s dominant services industry flatlined and a downturn in manufacturing accelerated, while inflation in France and Spain for September came in very soft.

    Sources told Reuters that ECB policy doves are preparing to fight for an October rate cut – though this would likely meet resistance from more conservative peers – a turnaround from the aftermath of the ECB’s September meeting when they saw an October move as unlikely.

    Here are the latest forecasts from some brokerages.

    Terminal

    Brokerage Oct ’24 rate Dec ’24 rate/end ’25 forecast

    cut estimate estimate (bps)

    (bps)

    Goldman 25 25 2.0% (June 2025)

    Sachs

    HSBC 25 25 2.25% (April 2025)

    BNP 25 25 2.25% (end-2025

    Paribas forecast)

    RBC 25 25 2.25% (April 2025)

    JPMorgan 25 25 2.0% (June 2025)

    Barclays 25 25 2.00% (June 2025)

    25 25 2.50%

    TD (March 2025)

    Securities

    25 25 Close to

    Jefferies 2.00% (end 2025)

    Deutsche – 25 2.0%-2.5% (mid-2025)

    Bank

    Citi – 25 Likely

    under 2%

    UBS IB – 25 2.25% (end-2025

    forecast)

    ING – 25 2.25% (end 2025

    forecast)

    BBVA – 25 2.75% (November 2025)

    SEB – 25 2.00% (end 2025)

    (Reporting by EMEA markets team and the Broker Research team in Bengaluru; Editing by Amanda Cooper)

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